GAITHERSBURG, Md., July 16, 2020 (GLOBE NEWSWIRE) -- Altimmune, Inc. (Nasdaq: ALT), a clinical-stage biopharmaceutical company, today announced that its previously announced underwritten public offering of 4,119,564 shares of its common stock, and, to certain investors in lieu thereof, pre-funded warrants to purchase 1,630,436 shares of its common stock at an exercise price of $0.0001 per share. The shares include 750,000 shares of common stock sold pursuant to the option granted by the Company to the underwriters, which option was exercised in full. The public offering price of each share of common stock was $23.00 and the public offering price of each pre-funded warrant was $22.9999 per underlying share.
The aggregate gross proceeds to Altimmune from the offering were approximately $132.2 million, which includes the exercise of the underwriters’ option to purchase additional shares in full, before deducting underwriting discounts and commissions and offering expenses payable by Altimmune. Altimmune anticipates using the net proceeds from the offering for general corporate purposes, which may include, but are not limited to, scale up of manufacturing and advanced clinical trials of AdCOVID, a single dose intranasal COVID-19 vaccine candidate; the continued development of ALT-801, its dual GLP-1/glucagon receptor agonist for the treatment of non-alcoholic steatohepatitis (NASH), including manufacturing and clinical trials; and for capital expenditures and working capital.
Jefferies, Evercore ISI and Piper Sandler acted as joint book-running managers for the offering. Roth Capital Partners acted as co-manager for the offering.
About Altimmune
Altimmune is a clinical stage biopharmaceutical company focused on developing treatments for liver disease, immune modulating therapies and intranasal vaccines. Our diverse pipeline of product candidates includes next generation peptide therapeutics for NASH (ALT-801) and chronic hepatitis B (HepTcell™), an intranasal immune modulating treatment for COVID-19 (T-COVID™) and intranasal vaccines (AdCOVID™, NasoShield™ and NasoVAX™).
